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- Lutine bell tolls relief for Lloyds.(regulators approve creation of Lloyd's of London's reinsurance company Equitas)
- LONDON--Lloyd's of London celebrated the successful conclusion of its 3.2[pounds] billion reconstruction and renewal plan last week after receiving final regulatory authorization for Equitas, the reinsurer that will separate the market from its old-year liabilities. The occasion was celebrated formally with the ringing of the Lutine...
- Research articles 1996-09-09
- Calif. tries to freeze Lloyd's U.S. fund.(Lloyd's of London is sued by California Department of Corporations over alleged securities fraud)
- LONDON--U.S. insurance regulators reacted angrily last week to a lawsuit against Lloyd's of London, which seeks to freeze the $10 billion Lloyd's American Trust Fund. The lawsuit, filed by the California Department of Corporations in Los Angeles Superior Court, alleges that Lloyd's fraudulently sold securities...
- Research articles 1996-03-04
- Muhl says Lloyd's must keep high U.S. reserves. (New York Insurance Superintendent Edward J. Muhl; Lloyd's of London)
- LONDON--The requirement that forces Lloyd's to maintain funds in the United States equal to gross U.S. liabilities isn't likely to change until the market emerges from its current difficulties, New York Insurance Superintendent Edward J. Muhl contends. He admitted the requirement is "a bit much, a...
- Research articles 1996-02-05
- Some Lloyd's syndicates show reserve surplus.(Lloyd's of London)
- LONDON--The ongoing Lloyd's project to calculate the extra reserves needed to finalize members' liabilities shows that some syndicates are in a surplus position, according to Lloyd's Chief Executive Officer Peter Middleton. "We have taken, with full justification, a more optimistic view of pollution liabilities than...
- Research articles 1995-11-06
Additional Resources
- Equitas settles GM's claims against Lloyd's.(General Motors Corp.)(Brief Article)
- Byline: Sarah Veysey LONDON-Equitas Ltd. and General Motors Corp. have agreed to settle all of the automaker's claims against Lloyd's of London underwriters reinsured by Equitas. A spokesman for London-based Equitas, the runoff reinsurer for the Byline: Sarah Veysey ...
- Research articles 2005-10-31
- Equitas settles Travelers claims for $245 million: over half of payments related to asbestos bodily injury losses, put in trust.(The News)(Equitas Holdings Ltd.)(Travelers Property Casualty Corp.)
- EQUITAS HAS AGREED TO PAY Travelers Property Casualty Corp. $245 million to settle reinsurance claims, the bulk of them involving asbestos injuries, the Lloyd's runoff operation announced last week. Equitas said payment for a comprehensive settlem EQUITAS HAS AGREED TO PAY Travelers Property...
- Research articles 2004-03-29
- Equitas to Acquire up to $7 Billion of Additional Reinsurance Protection from National Indemnity Company, a Berkshire Hathaway Group Company
- LONDON & OMAHA, Neb. -- Equitas and Berkshire Hathaway Inc. (NYSE:BRK.A)(NYSE:BRK.B) announced today that they have reached an agreement in principle on a structure in which National Indemnity Company, a member of the Berkshire Hathaway group of insurance companies, will: * Reinsure all Equitas' liabilities; * Provide up...
- Research articles 2006-10-20
- Equitas to settle Hercules claims.(International)(Brief Article)
- Byline: Sarah Veysey LONDON-Equitas Ltd. has reached a $97 million settlement that will resolve current and future asbestos claims of Hercules Inc. Equitas, the runoff reinsurer for the pre-1993 long-tail liabilities of Lloyd's of London syndica Byline: Sarah Veysey ...
- Research articles 2004-08-30
- Equitas Halliburton reach $575 million agreement.(National Report)
- Equitas and its insured, Halliburton, have reached a conditional $575 million settlement of asbestos claims, and Equitas has announced that it is willing to come to agreements with any of its policyholders as long as they are interest in "realis Equitas and its insured, Halliburton, have...
- Research articles 2004-03-01
- Equitas to pay $472 million for Honeywell asbestos claims.(News)(Equitas Ltd. and Honeywell International Inc.)
- Byline: DOUGLAS MCLEOD MORRISTOWN, N.J.-Equitas Ltd. will pay $472 million to Honeywell International Inc. in a policy buyback, settling all of Honeywell's asbestos and other claims against Lloyd's of London syndicates reinsured by Equitas, the tw Byline: DOUGLAS MCLEOD MORRISTOWN,...
- Research articles 2003-04-07
- Equitas settlements may signal trend; Predictions of reinsurer's financial future seen as driver.(News)
- Byline: SARAH VEYSEY LONDON-A series of large claim settlements by Equitas Ltd. may prompt other companies to seek similar deals with the runoff reinsurer. Concerns about the increased outflow of funds from Equitas-and how that might affect its Byline: SARAH...
- Research articles 2004-03-29
- Equitas gets nod from U.K. officials.(Lloyd's of London reinsurance subsidiary)
- LONDON--Lloyd's too another step towards separating itself from the problems of its past when the U.K. insurance regulator authorized Equitas, the company Lloyd's has created to reins e market's 1992 and prior-year liabilities. It is expected Equitas will have assets of at least 13.5 billion[pounds]($20.7...
- Research articles 1996-04-08
- Equitas will pay valid claims quickly but won't be 'easy target,' executive says. (Equitas Ltd.'s payment of claims against Lloyd's of London)
- Equitas Ltd., the reinsurer formed to run off Lloyd's of London's old liabilities, won't be a pushover when it comes to paying claims. Valid claims will be paid quickly, a practice that will minimize litigation and make "good economic sense," said David K. Newbigging, chairman...
- Research articles 1996-09-30
- Equitas - Managing Service Transition
- Reinsurance company, Equitas, has a different goal to many commercial organizations. It was created in 1996 to run-off the 1992 and prior years liabilities of Lloyd's of London syndicates. Equitas was tasked with the challenge of finding a solution that would retain valuable people within the business long enough for...
- Case studies
- Lloyd's may lure outside investors as legacy problems begin to fade; Consolidation possible after sale of Equitas to Berkshire Hathaway.(Lloyd's of London, Equitas Holdings Ltd.)
- Byline: SARAH VEYSEY LONDON-The resolution of concerns over Lloyd's of London's potential exposure to the legacy policies reinsured by Equitas Ltd. is expected to prompt more investors to consider entering the market and could spark more consolida Byline: SARAH VEYSEY ...
- Research articles 2006-11-20
- Equitas to pay U.S. manufacturer Crane $33 million to settle asbestos, other claims.(World)(Equitas Holdings Ltd. to pay to Crane Co. towards pollution liability)(Brief Article)
- Byline: Mark A. Hofmann LONDON-Equitas Ltd. has agreed to pay $33 million to Crane Co. to settle asbestos and other liability claims against the Stamford, Conn.-based manufacturer. The settlement resolves all claims against pre-1993 policies iss Byline: Mark A. Hofmann ...
- Research articles 2005-08-01
- Equitas blasts asbestos bill.
- EQUITAS OFFICIALS ARE BLASTING a proposed provision of asbestos litigation reform legislation that provides an escape hatch for payments into a claims resolution trust fund for everyone but them. Equitas is the runoff vehicle established by Lloyd's of London to reinsure liabilities of Lloyd's...
- Research articles 2005-01-31
- Berkshire makes Equitas offer; Unit would reinsure runoff liabilities and assume operations.(News)(Berkshire Hathaway Inc.)
- Byline: SARAH VEYSEY and GLORIA GONZALEZ LONDON-A proposed multi-billion dollar deal by Berkshire Hathaway Inc. to reinsure and runoff the liabilities of Equitas Ltd. would mark an end to the long-tail liability of individuals reinsured by Equitas and eliminate any potential exposure of Lloyd's...
- Research articles 2006-10-23
- Equitas Announces Reinsured Names Consultation.
- LONDON, December 13 /PRNewswire/ -- The Board of Equitas and the Equitas Trustees have written to all Reinsured Names announcing three consultation meetings in January. The document also provides further details of the proposed agreement with National Indemnity, a subsidiary of Berkshire...
- Research articles 2006-12-13
- Equitas draws mixed reviews; few expect Lloyd's to regain reinsurance stature. (Equitas Ltd. and Lloyd's of London)
- MONTE CARLO, Monaco - Reinsurance executives give mostly favorable marks to Equitas Ltd. and Lloyd's of London for solving the market's past problems and allowing it to get on with the business of underwriting. Equitas was formed to run off Lloyd's business from 1992 and ...
- Research articles 1996-09-23
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